Dublin, Oct. 25, 2019 (GLOBE NEWSWIRE) -- The "Commercial High-Speed Hand Dryer Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

The Global Commercial High-Speed Hand Dryer Market is expected to grow at a CAGR of over 7% during the forecast period 2018-2024.

Key Market Insights

• Offers market sizing and growth prospects of the commercial high-speed hand dryer market for the forecast period 2019-2024.
• It provides comprehensive insights into the latest industry trends, market forecast, and growth drivers in the market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the automotive molding market.
• It offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.

The growing demand for commercial high-speed hand dryers can be attributed to the increasing urbanization, the improvement in living standards, and the availability of innovative hand dryers, including sensor-based ones. In terms of revenue, the market is likely to witness steady growth during the forecast period. Developed markets such as Europe and North America are witnessing high replacement demand. Hence, the increase in replacement demand provides vast opportunities for vendors.

Commercial High-speed Hand Dryer Market: Segmentation

The high-speed jet dryer market is expected to grow at the fastest CAGR during the period 2018-2024. Rapid technological innovations and changing dynamics are the major factors driving the growth of the segment. As the market is open to innovation, jet air dryers have observed major technological advancements, which have increased their adoption in commercial applications. Jet air dryers offer increased product efficiency; hence Europe and North America are witnessing high adoption of these products. Although they are growing at an impressive rate, hot dryers are likely to maintain their dominance during the forecast period as they are the most cost-effective.

Hand dryers are mainly sold through dealer distribution channels and retail stores such as specialty stores, supermarkets, hypermarkets, mass-market players, electronic stores. However, online stores are increasing gradually. The growth in online sales is set to increase by over 10% YOY during the forecast period. The primary reason for this is online stores offer more options to choose from than retail stores. Some vendors offer YouTube videos (video tutorials) and help beginners to get knowledge about the application and make them aware of these products. Besides, prices offered on the internet are lower than retail stores because of the discount offered by vendors to promote their products.

Although the hands-under dryer is the most preferred hot air product, the segment is witnessing several technological advances, and the product is increasingly getting replaced with high-speed hands-under jet dryers. Innovation holds the key to success, and thus, manufacturers have been launching new products, including automatic sensor-based ones.

The hospitality sector is one of the largest end-use application industries in the market. The rise in the hotel business and hospitality industries, and the growing trend of traveling can be attributed to the high adoption of high-speed hand dryers in the industry. The rise of commercial construction, including airport modernization, is a significant factor for market growth. However, the application is not only confined to commercial construction spaces, but the growing demand from rail transportation also continues to offer new business opportunities for vendors, especially in metropolitan cities. The demand for long-distance rail transport has already grown and is expected to grow as the high-speed rail network continues to develop worldwide, especially Asia.

Geographical Analysis

Europe was the largest market in 2018 and is expected to continue its dominance during the forecast period. The growing popularity and increased adoption of hand dryers in regional markets such as Germany and the UK is one of the major factors for high shares of the market. The development of advanced commercial infrastructure is driving the APAC market. However, the market is likely to grow at a steady pace during the forecast period. A major factor driving the market is the rise of the tourism industry, which is increasing the importance of hygiene among tourists.

Key Vendor Analysis

The global commercial high-speed hand dryer market is currently witnessing intense competition among key players. The rapidly changing market dynamics in terms of product innovation and advancement is acting as a catalyst to intensify the competition. Consumers have a higher number of choices concerning product availability. The present scenario is driving vendors to change and redefine their unique value propositions to achieve a strong market presence.

Major players largely dominate the market. However, small vendors are offering products with generic specifications at relatively lower prices. Besides, the market showcases flexible behavior in terms of the adoption of innovative products. This creates a major challenge for low-scale players as they have limited resources to invest in research and development.

The adoption rate of innovative commercial products has increased among end-users worldwide. It is also fueled by the growing emphasis on sustainable and smart infrastructure development such as infrastructure 4.0 along with IoT. Intensifying competition among market players has led to the introduction of innovative and advanced solutions in the market.

Key Topics Covered

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Product Type
4.4.2 Market Segmentation by Distribution Channel Type
4.4.3 Market Segmentation by Operation Type
4.4.4 Market Segmentation by Application
4.4.5 Market Segmentation by Geography

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview
7.2 Macroeconomic Factors Enabling Market Growth
7.2.1 Economic Development
7.2.2 Per Capita GDP in Developing Markets
7.2.3 Dual-income Households in Developed Markets

8 Market Dynamics
8.1 Market Growth Enablers
8.1.1 Inclination Towards Eco-friendly Technology
8.1.2 Ongoing Product Innovations
8.1.3 Increasing Adoption of Hand Dryers
8.1.4 One-time Investment
8.2 Market Growth Restraints
8.2.1 Concerns over Noise Levels
8.2.2 Rising Health Concerns
8.2.3 Frequent Launches Reducing Product Stability
8.3 Market Opportunities & Trends
8.3.1 Savings on Energy Consumption
8.3.2 Enhanced Focus on Hygiene Maintenance
8.3.3 Partnerships with Hospitality Sector
8.3.4 Emphasis on Infrastructure 4.0

9 Value Chain
9.1 Overview
9.2 Value Chain Analysis
9.2.1 Overview
9.2.2 Raw Material Suppliers
9.2.3 Manufacturers
9.2.4 Distributors/Dealers
9.2.5 Retailers
9.2.6 End-users

10 Commercial High-Speed Hand Dryer Market
10.1 Market Overview
10.1.1 Historical Data 2016-2017
10.1.2 Market Size & Forecast
10.1.3 Market by Geography - Revenue & Unit Shipments
10.2 Five Forces Analysis

11 By Product
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 Hot Air Hand Dryer
11.4 Jet Air Hand Dryers

12 By Operation Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Hands-under Dryers
12.4 Hands-in Dryers

13 Market By Application
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Hospitality
13.4 Commercial Spaces
13.5 Healthcare
13.6 Corporate Spaces

14 By Distribution Channels
14.1 Market Overview
14.1.1 Manufacture, Production, & Distribution
14.1.2 Distribution through Retail Stores
14.1.3 Distribution through Online Websites

15 By Geography
15.1 Market Snapshot & Growth Engine
15.2 Overview

16 Europe

17 APAC

18 North America

19 Middle-East & Africa

20 Latin America

21 Competitive Landscape
21.1 Competition Overview

22 Key Company Profiles
22.1 Excel Dryer
22.1.1 Business Overview
22.1.2 Excel Dryer in Commercial High-speed Hand Dryer Market
22.1.3 Major Products Offerings
22.1.4 Key Strengths
22.1.5 Key Strategy
22.1.6 Key Opportunities
22.2 Mitsubishi Electric
22.3 Mediclinics S.A.
22.4 TOTO
22.5 World Dryer (Rexnord)

23 Other Prominent Vendors
23.1 AIKE
23.1.1 Business Overview
23.1.2 Key Strengths
23.2 ASI Group
23.3 Askon Hygiene Products
23.4 Bobrick
23.5 Bradley Corporation
23.6 Comac Corporation
23.7 DIHOUR
23.8 Dyson
23.9 Electrostar
23.1 Hokwang Industries
23.11 JVD SAS
23.12 Jaguar Group
23.13 Jieda Electrical Appliances
23.14 Metlam Australia
23.15 Palmer Fixture
23.16 SPL
23.17 Stiebel Eltron

For more information about this report visit https://www.researchandmarkets.com/r/7o4px0

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Press Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.